Chija officially dropped its GDP growth guidance first time since 2002, and in last week’s NPC Premier Li publicly said “China still has 600 million people with monthly income of 1,000 yuan ~$140 or less”

Both to me are STRONG signals of CCP’s expectation management (cont.

CCP tends to overblow good news and cover up bad ones, like actual GDP growth can have been under the guidance but “officially” always hit or exceed. Dropping the guidance means it can no longer make number anywhere close to the the guidance

“600mm ppl lives under 1000 yuan monthly income” statement is shocking. for past few years we just heard every growing “average income”, which already surpasses $1000 USD in 2019

I still have no idea why the number can vary so much if zooming into that 600mm ppl ..

”家丑不可外扬” family scandal shall not be known outside is a typical Chinese mentality. Premier publicly share an ashamedly low income number is rare. This means the economic growth problem is pretty severe and they have to reveal some brutal fact to manage expectation right